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Today Share Market Update

Sensex ends 464 points up, Nifty above 7,350

Market maintained its post-Budget momentum for the second day as the benchmark Sensex surged 464 points to 24,243 -- nearly a one-month high -- led by gains in banking after RBI eased capital requirement rules for lenders.

Nifty opens above 7400, Sensex rises 180 pts. Tata Motors leads

Indian shares gain over 2 pct on budget, track Asian markets

Six key Budget fundamentals send Sensex, Nifty in a tizzy

·         Positive cues from Asian markets

·         Technical view

·         Higher FDI cap in stock exchanges

·         Adherence to fiscal deficit fuels rate cut hopes

Stock Cash Tips

Headlines of the day:-

Tata Steel climbs 3% as steelmaker receives green nod for expansion project

IDBI Bank snaps 3-day winning streak, down 3% after clarification

Eveready rises 3% as company plans to hive off tea business

FII actions hint Nifty may touch 7500

Corporate Sector News:-

RBI may go for 50 bps easing in 2016; Nifty target 7,500: UBS

The Reserve Bank is likely to go for a 50-basis point rate cut this calendar year as the Budget gives the central bank sufficient room to adopt a more accommodative stance, UBS said in a research note, adding that its Nifty target is 7,500.

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